The assets are among gas projects with declining production and market value as Exxon Mobil focuses on newer ventures in Guyana, offshore Brazil and Texas's Permian Basin.
Diversified Energy Co. agreed in May to purchase Barnett Shale assets from Blackbeard Operating LLC for $180 million. The transaction comes on the heels of Diversified closing on its acquisition of Indigo Minerals LLC’s Cotton Valley assets in Louisiana.
There is no clear evidence that higher conductivity proppants (either white sand versus regional sand or ceramic proppants versus white sand) result in better well performance and economics.
Gary McWilliams, Reuters Your browser does not support the audio element.
U.S. oil and gas producer Chesapeake Energy Corp. s Chapter 11 bankruptcy plan was approved by a U.S. judge on Jan. 13, giving lenders control of the firm and ending a contentious trial.
Chesapeake will emerge from bankruptcy with about $3 billion in new financing, a $7 billion reduction in debt, and $1.7 billion cut from gas processing and pipeline costs.
Investors who committed last spring to back the restructuring as energy tumbled stand to benefit enormously. A rebound in energy prices raised Chesapeake s value to about $5.13 billion, the judge hearing the case said.